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9 min read

Protecting Your Hard-Earned Money in Uncertain Times - Part 2/4

In an uncertain economy, protecting your money is more important than ever. In Part 2/3 of this series, learn how to secure your finances, invest wisely, and create additional income streams to safeguard your future.
Concept of stock market crash with red arrow and pictire of dollar bill.
It's time to set up those limit buys at low prices to catch the sale in stocks. Photo from Canva.

If you Follow the News, You realize the world is shifting into a new phase of turmoil. Governments are militarizing, people are seeking safe havens, and travel may soon become more challenging as nations become more insular.

This post is the second of four parts. If you missed the first part: If You Own Land, Use It to Secure Your Future, please go to this link.

If You Live in an Apartment, Invest Wisely and Diversify Your Income

Last week, we looked at how to protect your hard-earned money when you have land. However, not everyone has land, and that's fine. Most of us live in big cities in tiny apartments, condos, and duplexes with no land or an HOA that prevents such activities. If you're in a city with a similar situation, your approach to protecting your income has to be different.

1. Invest in Stocks—But Be Smart About It

• The stock market moves in cycles, and downturns are inevitable. Instead of panic-selling when things go south, invest in stable, dividend-paying stocks that provide income even in bad times.

• Many experts will tell you to invest in companies that provide utilities, healthcare, and consumer staples (things people always need), which they claim tend to be more resilient in downturns. This is generally true, but as my Dominicana Professora used to say, "todo depende."

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Published by:

Elliott Paige

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